Continental Announces ATM Division Update, Proposed Name Change and Grant of Options.TORONTO -- Continental Cash Technologies Corp. (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension VENTURE:CNT (Carbon NanoTube) See nanotube. ) Automated Teller Machine automated teller machine (ATM), device used by bank customers to process account transactions. Typically, a user inserts into the ATM a special plastic card that is encoded with information on a magnetic strip. Division Continental Cash is pleased to report that it has concluded an internal review of its existing Automated Teller Machine (ATM) operations. "We are pleased to have completed this step in the re-structuring of the Company and are currently involved in the due diligence Research; analysis; your homework. This term has caught on in all industries, because it sounds so "wired." Who would want to do analysis or research when they can do due diligence. See wired. of our first potential acquisition in the ATM area. The Canadian ATM industry contains numerous smaller operators that make it an area with consolidation opportunities that we intend to pursue" said Birks Bovaird, President. Name Change The Company has decided to change its name to "CENIT CORPORATION" subject to shareholder approval at the Company's Annual General and Special Meeting to be held December 15, 2004. The name change is intended to signal the completion of the re-structuring of the Company's balance sheet and management's commitment to pursue growth opportunities. Individual ATM's will continue to display the Continental Cash brand name. Options to Purchase Common Shares The Company has granted, subject to regulatory and shareholder approval, 200,000 Options to Purchase Common Shares to an Officer of the Company. The Options have an exercise price of $0.15 per Share and expire five years from the date of shareholder approval anticipated at the Company's Annual General and Special Meeting December 15, 2004. About Continental Cash Technologies Corp. The Company operates two subsidiary companies; Continental Asset Management Inc. (CAM) and Health Promotions Strategies Inc. (HPSI HPSI High Pressure Safety Injection HPSI Human-Ported System Interface ). CAM operates white label Automated Teller and Point of Sale Machines and is a preferred supplier of Ingenico Canada Ltd.; a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of one of the world's largest manufacturers of debit and credit point of sale systems hardware. HPSI is a registered gaming equipment supplier providing fundraising services to 150 charitable organizations through the distribution of the "Break Open Tickets" line of charity lottery tickets. Share Price: $0.17 (Nov 16, 2004) Shares Outstanding: 12,345,594 The TSX Venture Exchange TSX Venture Exchange Originally called the Canadian Venture Exchange (CDNX), this was a result of the merger of the Vancouver and Alberta stock exchanges. The goal of TSX Venture Exchange is to provide venture companies with effective access to capital while protecting investors. does not accept responsibility for the adequacy or accuracy of this release Continental Cash Technologies Corp. (TSX VENTURE:CNT) |
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